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Financial Compensation for CFPB Whistleblowers Act

USA117th CongressHR-5484| House 
| Updated: 10/5/2021
Al Green

Al Green

Democratic Representative

Texas

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Financial Compensation for CFPB Whistleblowers Act This bill requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions greater than or equal to $1 million. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau collects less than $1 million of the imposed monetary sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.
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Timeline

Bill from Previous Congress

HR 116-7793
Financial Compensation for CFPB Whistleblowers Act
Sep 21, 2021

Latest Companion Bill Action

S 117-2775
Introduced in Senate
Oct 5, 2021
Introduced in House
Oct 5, 2021
Referred to the House Committee on Financial Services.
  • Bill from Previous Congress

    HR 116-7793
    Financial Compensation for CFPB Whistleblowers Act


  • September 21, 2021

    Latest Companion Bill Action

    S 117-2775
    Introduced in Senate


  • October 5, 2021
    Introduced in House


  • October 5, 2021
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Related Bills

  • HR 117-5714: CFPB Whistleblower Incentives and Protection Act
  • S 117-2775: Financial Compensation for CFPB Whistleblowers Act

Financial Compensation for CFPB Whistleblowers Act

USA117th CongressHR-5484| House 
| Updated: 10/5/2021
Financial Compensation for CFPB Whistleblowers Act This bill requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions greater than or equal to $1 million. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau collects less than $1 million of the imposed monetary sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-7793
Financial Compensation for CFPB Whistleblowers Act
Sep 21, 2021

Latest Companion Bill Action

S 117-2775
Introduced in Senate
Oct 5, 2021
Introduced in House
Oct 5, 2021
Referred to the House Committee on Financial Services.
  • Bill from Previous Congress

    HR 116-7793
    Financial Compensation for CFPB Whistleblowers Act


  • September 21, 2021

    Latest Companion Bill Action

    S 117-2775
    Introduced in Senate


  • October 5, 2021
    Introduced in House


  • October 5, 2021
    Referred to the House Committee on Financial Services.
Al Green

Al Green

Democratic Representative

Texas

Financial Services Committee

Finance and Financial Sector

Related Bills

  • HR 117-5714: CFPB Whistleblower Incentives and Protection Act
  • S 117-2775: Financial Compensation for CFPB Whistleblowers Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted